5 Reasons Employers Should Invest their Levy in Level 2 Apprenticeships
If you are a large employer and are feeling the pinch from paying the Apprenticeship Levy, it’s time to think about seeing that cash as an investment not an expense. You can use your Levy to fund any level of apprenticeship. Whilst higher level apprenticeships may seem like an attractive proposition, there are some core business reasons for choosing to invest your Levy at level 2.
1. Staff Retainment
Recruiting and training new staff is a massive drain on resources. And in the lower ranks of any workforce turnover of staff is much more prolific. Investing in your junior staff can give them a reason to commit to staying with your organisation. A Level 2 apprenticeship can be an ideal starting point for a school leaver entering your workplace, and will supply them with the skills your company needs.
2. Attracting high quality recruits
The government and training providers have been raising awareness of Apprenticeships in schools and to young people for several years. Large high profile corporations now regularly recruit apprentices. So for a school leaver at 16 or 18, an apprenticeship is an increasingly popular choice as it offers a proper job, recognised training and a structured career route. It’s wrongly assumed that apprenticeships are the choice for less academic pupils. We’re seeing more and more able school leavers picking apprenticeships over A-levels. And employers are on to it. They’re starting to treat apprenticeships much as they do university milk-rounds – as a way of recruiting the brightest young talent with most potential. Offering level 2 apprenticeships can help you attract good quality school leavers into entry level positions in your company
3. Suitable for older staff too!
Apprenticeships aren’t just for young people – any of your staff aged 16 or over can do an apprenticeship. So if you want to help your older, more established staff members gain skills to progress in their roles or support their transition into new roles, then apprenticeships are the ideal tool to help you do this. Your Levy will fund the costs of training.
4. Corporate social responsibility
Creating apprenticeships opportunities for school leavers is a way of giving back to the community. You will be helping the next generation of workers get their foot on the employment ladder and start building their future. More and more employers are demonstrating their corporate social responsibility by creating entry level apprenticeship positions.
5. Address maths and English skills levels
As part of the training and support received from their training provider, apprentices have to reach competency in maths and English at level 2 (old GCSE A-C/new GCSE 6-9 equivalent), alongside the skills and qualifications needed to do their specific role. So if maths and English standards are an issue in your organisation, investing your Levy in level 2 apprenticeships could be a good solution.
Don’t forget, Levy funds sit in your digital account ready for you to use but they expire after 24 months. So it really is a case of use it or lose it. And the government tops up your account funds by 10% – you’ll potentially be missing out on thousands of pounds depending on the size of your payroll if you don’t put the money to work.
Levy funds can be used to fund apprenticeship training and assessment for the course they are following, but you’ll still have to meet the full cost of wages and expenses. For help at de-coding the rules and regulations get in touch with TRS today for a no-obligation chat. We’ve made the Levy work for many of our clients and can do the same for you.